Ecopetrol asks prosecutors to probe $172M gas project

Ecopetrol requested Colombia's Prosecutor General's Office to investigate the award of a $172 million contract for the Pacific regasification plant in Buenaventura. The state-controlled oil company filed the criminal complaint on September 2, 2026, following findings by its internal audit team, according to an investigation by El Tiempo.

The internal inquiry seeks to examine possible influence peddling, conflicts of interest, altered pre-contractual and contractual terms, and potential omissions in applying delay penalties. The contract was awarded to PIO SAS under Colombia's President Gustavo Petro and Ecopetrol CEO Ricardo Roa. The facility was scheduled to start operations on August 1, 2026, but is now estimated to begin by mid-November.

The contract includes penalties of $200,000 per day of delay. PIO SAS founder and owner Óscar Isaza argued the firm faces a 45-day delay protected by a two-month contractual grace period, citing disruptions from war in Iran, a Chinese typhoon, road closures, and an earthquake that shut Buenaventura port for five days. Ecopetrol has accepted only two of the 45 delay days, which could trigger fines and arbitration.

The probe also scrutinizes professional ties involving Einstein Mauricio Gómez Machado, CEO of the regasification venture since 2025, and former Ecopetrol energy transition executives. Isaza and other implicated parties denied any wrongdoing, including allegations of illicit requests of four US cents per million cubic feet.